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Chery JV launches Qoros brand
By Jin Jing |
November 29, 2011, Tuesday
|
Print Edition
Print Edition
THE joint venture between China's Chery Automobile and Quantum LLC, an American subsidiary of Israel Corp, yesterday announced plans to launch its first model in 2013, aiming to grab a share of the global auto market with models plying the "Made in China" concept.
The mid-class sedan would carry the brand name of Qoros and target both China and west European markets. The product plan also includes a hatchback sedan and a sport-utility vehicle within two years after the first model is launched, followed by another electric vehicle.
A 150,000-unit car manufacturing plant is under construction in Changshu, east China's Jiangsu Province.
The 50-50 Chery-Quantum venture was set up in 2007 with a registered capital of 3.4 billion yuan (US$532 million) and was called Chery Quantum Auto.
The company yesterday unveiled its new name, Qoros Automotive Co.
As a late market player, Qoros faces a big challenge to lift its brand awareness in the highly competitive auto market in China, where domestic companies and international giants have built a strong presence.
Company Vice Chairman Volker Steinwascher said the Qoros brand would make vehicles combining European design and engineering technologies while meeting customer demand.
"Quality, design, connectivity and simplicity, these are the key drivers of our brand," Steinwascher added.
China's home grown carmakers, including Chery, actively seek opportunities to introduce their models in mature Western markets after making a breakthrough in developing countries. But efforts have been stymied due to higher safety standards as well as weak brand recognition.
"Qoros is committed to achieving international recognition, bringing enjoyment to drivers through quality products, elegant design solutions and personalized services," Chairman and Chief Executive Officer Guo Qian said.
The mid-class sedan would carry the brand name of Qoros and target both China and west European markets. The product plan also includes a hatchback sedan and a sport-utility vehicle within two years after the first model is launched, followed by another electric vehicle.
A 150,000-unit car manufacturing plant is under construction in Changshu, east China's Jiangsu Province.
The 50-50 Chery-Quantum venture was set up in 2007 with a registered capital of 3.4 billion yuan (US$532 million) and was called Chery Quantum Auto.
The company yesterday unveiled its new name, Qoros Automotive Co.
As a late market player, Qoros faces a big challenge to lift its brand awareness in the highly competitive auto market in China, where domestic companies and international giants have built a strong presence.
Company Vice Chairman Volker Steinwascher said the Qoros brand would make vehicles combining European design and engineering technologies while meeting customer demand.
"Quality, design, connectivity and simplicity, these are the key drivers of our brand," Steinwascher added.
China's home grown carmakers, including Chery, actively seek opportunities to introduce their models in mature Western markets after making a breakthrough in developing countries. But efforts have been stymied due to higher safety standards as well as weak brand recognition.
"Qoros is committed to achieving international recognition, bringing enjoyment to drivers through quality products, elegant design solutions and personalized services," Chairman and Chief Executive Officer Guo Qian said.
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